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South Africa-born Elon Musk is once again the richest person in the world

Musk, the chief of companies including Tesla and Twitter, now has a net worth of $187.1 billion, according to Bloomberg. He bested LVMH CEO Bernard Arnault, overtaking the head of the luxury brand conglomerate whose own net worth is $182 billion, according to the Bloomberg Billionaires Index.

Arnault had unseated Musk last year as Tesla shares fell in December. The Tesla stock price hit a low of $108.10 on Jan. 3, 2023, according to historical data on Yahoo Finance. The carmaker’s stock closed at $207.63 on Monday.

After the tumult of last year, in which Musk purchased Twitter after some uncertainty about whether he’d follow through on the deal, and a lawsuit at the time by Tesla shareholders, Musk has had a better 2023 so far.

Earlier this month, he prevailed in a federal civil trial in San Francisco over whether he should be held liable for tweeting in 2018 that he had “funding secured” to take Tesla private, though the transaction ultimately didn’t happen.

Musk also tweeted this month that Twitter was “trending to break even” and that he had to “save” the platform from bankruptcy. Musk is still facing legal claims from laid-off Twitter employees and lawsuits from landlords claiming that Twitter offices have fallen behind on rent.

Musk previously beat Amazon founder Jeff Bezos in 2021 to become the world’s richest person at the time. The Musk, Arnault, and Bezos trio have periodically swapped places at the top of the Bloomberg Billionaires Index.

 

Source: africa.businessinsider.com

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